Simplifying Advanced Analytics to Empower Business Managers

I am lucky to be a part of an Analytics Solutions Company in the era of Big Data

Topics we are going to discuss today…So you can decide when to escape  • Analytics journey in a business • Analytics adoption in businesses • Role of Advanced Analytics Apps

What is the link between a HURRICANE andPOP-TARTS?

Research conducted by Wal-Mart oncustomer buying patterns before a hurricane OBVIOUS items purchased Bottled Water Flashlights Generators Tarps Chainsaw Mop The SURPRISE item - Strawberry Pop-Tarts. "They are preserved until you open them, the whole family can eat them, and they taste good," Dan Phillips, Wal-Marts VP, Information Systems division.Source: CNN

The analytics journey iNFORMATION iNSIGHTS iMPACT Analytics - The new Mantra of business

iNFORMATION is growingHuman generated iNFORMATION Big Data “Big data” refers to datasets whose size is beyond the ability of typical database software tools to capture, store, manage, and analyse.” - Mckinsey people using mobileMachine generated iNFORMATION 4B phones in 2010 pieces of content shared 30 B on Facebook every month Network sensor nodes present across transport, 30 M auto and other sectorsIncreasing Diversity and Volume of Data lead to emergence of Big Data andchallenge of how to manage it

iNFORMATION is data+ Data is BIG Data is HOT Total Lifetime Grosses Worldwide: $110,206,216 Data is valuable if it is leveraged to derive iNSIGHTS

iNSIGHTS – what? Hmmm… I wonder what iNSIGHTS can iNFORMATION provide?I now know what I I can see more money I can now personalize never knew

Illustrative iNSIGHTS for a Marketing Manager WHAT WILL WHO WILL SHE BUY BUY? NOW? NEXT? HOW MUCH? WHEN HOW WILL SHE SHOULD I BUY? HOW REACH HER? OFTEN? HOW OFTEN? Helps me take informed decisions

The Analytics iMPACTMaximize Increaserevenue, agility &margins performanceMitigate Reduce cost risk Analytics iMPACT needs to measurable & sustainable

Illustrative iMPACT for the Marketing Manager More Customer More Revenue from Customer Add Customer at a Lower Cost Competing on analytics

Converting iNFORMATION to iNSIGHTS haspotential to deliver significant iMPACT$300 B potential annual value to US health care potential annual value to Europe’s public sector€250 B administration potential increase in retailers’ operating margins 60% possible with big data Source: Mckinsey

Successful analytics adoption has demonstrated iMPACTNetflix example Right Right Better Movie People Revenue 1999: Revenue $5 M 2006: Revenue $ 1BAt the heart of Netflixs business is a complex analytics engine which isportrayed as simple tool customers which provides movie recommendationbased on customers choices and feedback – to optimize both the customerstaste and Netflixs inventory. Complex analytics made easy better adoption

…but adoption of analytics in business continues to be a challenge 70% uses analytics for 2 and fewer functions 36 33 17 13 1 None Using for 1 Using for 2 Using for 3 Using 4 above The 6 areas or functions are Sales, Marketing, Customer service, Product/service pricing, Product/service delivery and New product/service development BIG DATA growing prominence, Lack of Analytics will evolve as the “Achilles Heel”Source: Accenture

What enables successful analytics adoption? People Data Scientists |Business Manager iNFORMATION Access iNFORMATION: Who can ask the right Internal – integrated access to multiple questions and get the right iNFORMATION sources iNSIGHTS: Derive actionable iNSIGHTS Hidden - hidden in the system due from iNFORMATION unwillingness of stakeholders to share iMPACT: Effectively implement iNSIGHTS External - purchased from third-party or to deliver business iMPACT available in public domain Tools and Techniques Policies That can help individuals and organizations Policies to data protection - privacy, to integrate, analyze, visualize, and security, intellectual property, and consume liability Test, Solve and Institutionalize AnalyticsSource: Mckinsey

With growing demand for managers withanalytical skills, the gap in analytics tools needto be filled quickly Projected need for 1.5 million additional managers and analysts in the United States who can ask the right questions and consume the results of the analysis of Big Data effectively. Source: Mckinsey The need is for: Simple to use app which has ability to perform complex Analytics to enable business manager derive actionable iNSIGHTS

The GAP – Advanced Analytics Apps PERSONAL COMPUTING & HANDHELD DEVICESUserNeeds Complex Simple ANALYTICS TOOLS and APPLICATIONS Data scientist Business managers Business managers with analytics needs Robust Analytics Tools --- Simple desktop applicationsWill business friendly Apps emerge in analytics as tablets did in personal computing?

Features of an advanced analytics app Easy to Affordable Available Actionable use iNSIGHTS Fact-based discussions Data-driven decisions  Simple, intuitive  Pay per use  Accessible  Embedded predictive interface  Shared anywhere analytics  Fast results infrastructure  Sharing &  Machine intelligence  No learning curve collaboration based decisions  No deep statistical  Interactive knowledge needed visualization Cloud based pre-packaged advanced analytics based solutions

Our baby-steps in the journey Survey Data High Attrition Group – 1-3 years vintage VISUALIZE Data Comment on areas of improvement ANALYZE Data Word cloud Theme cloud Derive INSIGHTS SHARE FindingsSurvey Data + = NSIGHTS

The Evolution of Analytics will continue The Evolution Surviving on Analytics The Present The Science of Survival COMPETING on Analytics The Science of Winning

THANK YOUE-Mail – enquiries@bridgei2i.comLinkedIn -http://www.linkedin.com/company/bridgei2i-analytics-solutionsFacebook – http://tinyurl.com/bridgei2ifbTwitter - @BRIDGEi2iWeb – www.bridgei2i.com

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Simplifying Advanced Analytics to Empower Business Managers

by BRIDGEi2i Analytics Solutions on Aug 01, 2012

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